Exam 5: Strategizing

The firm's capacity to deploy resources that have been purposely integrated to achieve a desired end state are called _____________.

_________________ reflects what a firm is doing to achieve its mission and vision,as seen by its achievement of specific goals and objectives.

Strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.

According to the strategy diamond,economic logic tells us how profits will be generated above the firm's cost of capital.

What is the strategic management process?

Using Porter's analysis,firms are likely to generate higher profits if the industry includes which of the following?:

By exploiting internal resources and capabilities and meeting the demanding standards of global competition,firms create value for customers.

_____________ growth refers to any growth from takeovers,acquisitions,or mergers.

Why do firms pursing a differentiation strategy become vulnerable to different competitive threats more than firms pursing a cost leader strategy? Customers may sacrifice features,service,or image for cost savings.Customers who are price sensitive may be willing to forgo desirable features in favor of a less costly alternative.Medium;Comprehension

Emergence has been viewed as the result of multiple decisions at many levels,particularly within middle management,and has been viewed as a _____________ process.

How is strategy made? Strategy making is a combination of design and emergence.In practice,both design and emergence occur at all levels of the organization.The strategic planning systems of large companies involve top management passing directives and guidelines down the organization and the businesses passing their draft plans up to corporate.Easy;Comprehension

The stronger the power of _____________ in an industry the more difficult it is for firms within that sector to make a profit.

What questions do corporate and business strategies answer?

Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.

Cost leadership is a low-cost,broad-based market strategy.

Several studies have shown that a differentiation strategy is more likely to generate higher profits than a cost-leadership strategy.

Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels.

Many firms have valuable and rare resources that they fail to exploit.

A company's value derives not from things,but from ____________.

________________ is seen when an organization is very clear about its mission and vision,and has a coherent,well-articulated strategy for achieving those.